Creating a Will is one of the most important steps you can take to protect your family’s future. At BAS, we understand that the process can seem daunting, but it’s crucial to ensure your wishes are respected and your loved ones are taken care of.
Why You Need a Will
- Peace of Mind – knowing your affairs are in order.
- Protecting Your Loved Ones – ensuring your assets are distributed according to your wishes.
- Avoiding Intestacy Rules – which can result in your estate not being divided as you would have intended.
Where there’s a Will, there’s a way… to ensure your wishes can be caried out, your estate can be divided as you desire and you can reduce the risk of family disputes at a challenging time.
Download our FREE Will’s Guide here.
Step-by-Step Guide to Creating a Will
- Assess Your Assets
– Make a comprehensive list of your assets, including property, savings, investments, and personal items.
- Decide on Your Beneficiaries
– Determine who will inherit your assets. This can include relatives, friends, or even charities.
- Choose an Executor
– This is the person responsible for administering your estate. They should be someone you trust to carry out your wishes.
- Draft Your Will
– You can use a professional/solicitor, a will-writing service, or even a DIY kit (but approach this option with caution!). Ensure the will is clear and covers all aspects of your estate.
- Sign Your Will
– It must be signed in the presence of at least two witnesses who are not beneficiaries.
- Store Your Will Safely
– Keep it in a safe place and inform your executor and family of its location.
Important Considerations
- Seek Legal Advice – consider getting legal advice, especially if your estate is complex.
- Regular Updates – review and update your will regularly or after significant life events.
Common Pitfalls & How to Avoid Them
- Not Updating the Will
– Life changes such as marriage, divorce, birth of a child, or significant financial changes should prompt a review and, if necessary, an update of your will.
- Ambiguity
– Ensure the language is clear to avoid disputes. Ambiguous wording can lead to challenges in court.
- Ignoring Legal Formalities
– Failing to have the will properly witnessed can render it invalid.
At BAS, we’ve seen the peace of mind that comes with having a properly drafted will.
One of our clients, after consulting with us, realised their will did not accurately reflect their current financial situation or family structure. By revising the will with our guidance, they ensured their estate would be managed according to their precise wishes, preventing future conflicts and providing peace of mind.
Frequently Asked Questions
Q: Do I need a solicitor to make a Will?
A: It’s not a legal requirement to have a solicitor. However, hiring a professional skilled Will writer will ensure your Will is legally sound and covers all necessary aspects.
Q: Can I update my Will myself?
A: Yes, you can. However, it’s advisable to consult with a professional to ensure the changes are legally valid.
Q: Where should I store my Will?
A: Store it in a safe place, such as with your solicitor, at your bank, or in a secure home safe. Inform your executor and key family members of its location.
View our detailed FAQ’s here.
Creating a Will is a critical step in life & financial planning – it offers peace of mind for you and protection for your loved ones.
At BAS Associates Ltd, we’re here to guide you through every step of the process.
Meet our Wills experts here: Jacqui & Dawn
For personalised assistance with creating your will, contact us today.
